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More Than Half of Redfin Offers Faced Bidding Wars For the Sixth-Straight Month In October

Competition in the housing market has cooled slightly since the summer, but remains intense as record-low mortgage rates and remote work allow scores of Americans relocate.

PR Newswire

SEATTLE, Nov. 13, 2020 /PRNewswire/ — (NASDAQ: RDFN) — 56.8% of Redfin offers on homes nationwide faced competition in October, little changed from September’s revised rate of 57.4%, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. While that’s down slightly from the recent peak of 59.3% in August, it represents the sixth-consecutive month in which the bidding-war rate exceeded 50%.

An offer is considered part of a bidding war if a Redfin agent reported that it received at least one competing bid.

Competition in the housing market has remained fierce during the coronavirus pandemic due to record-low mortgage rates, a shortage of homes for sale and a sudden wave of migration made possible by remote work. This has triggered a surge in home prices, which grew 15% year over year during the four-week period ending Nov. 1, and are showing no signs of slowing.

“Has the market calmed down since the summer? Yes, but every offer I submit still faces multiple competing bids and we continue to see a lot more buyers than we normally would at this time of year,” said Melissa Killham, a Redfin real estate agent in Kenosha, WI. “The typical home today gets four or five offers, compared with eight or nine back in September. The buyers who are in the market right now don’t need to buy. They’re buying if they find the perfect home with more space and a big backyard, and if not, they’re staying put until they do.”


Salt Lake City Was the Most Competitive Market; Las Vegas Was the Least Competitive

At least half of offers faced bidding wars in 16 of the 24 metros in this analysis. Salt Lake City had the highest bidding-war rate, with 75% of Redfin offers encountering competition. In second place was San Diego, at 73.2%, followed by San Francisco/San Jose, at 69.6%. Austin, which was the second-most popular destination for homebuyers looking to move to a different metro area in the third quarter, was number four.

At the northern end of the Jersey Shore, the housing market is so hot that offering all cash for a home doesn’t always cut it anymore, according to local Redfin real estate agent Anthony Gonzalez.

“Cash is no longer king in this market,” he said. “What wins a bidding war today is offering more than the asking price and waiving the appraisal contingency. Generally, if you’re bidding on a house that’s in great condition in a good location with multiple offers, you’ve gotta go at least $20,000 over ask. Every single time that my client does, they win the deal.”

Las Vegas had a lower rate of competition than any other metro area in this analysis, with just 38.2% of offers facing bidding wars in October. It was followed by Miami, Chicago and Detroit, at 38.5, 41.1% and 44.1%, respectively.


Condos Were the Least Likely to Face Competition

Condos were the least likely to encounter bidding wars in October, with 41.4% of Redfin offers facing competition. That compares with 56.8% of offers for townhomes, and 59.4% of offers for single-family homes.

The condo market has seen relatively slow growth as remote work, the desire for privacy and record-low mortgage rates have made single-family homes more desirable during the coronavirus pandemic.

“In Seattle’s Capitol Hill neighborhood, there are no bidding wars at all when it comes to condos,” said local Redfin agent Forrest Moody. “I’ve sold 25 condos so far this year, and I have not had bidding wars on any of them.”


Bidding-War Rates By Metro Area, October 2020 and September 2020


To be included in this analysis, metros must have had at least 30 offers written by Redfin agents from Oct. 1, 2020 to Oct. 31, 2020.


Metro Area


Share of Redfin offers that faced bidding wars in October 2020


Share of Redfin offers that faced bidding wars in September 2020

Salt Lake City, UT

75.0%

83.3%

San Diego, CA

73.2%

71.6%

San Francisco / San Jose, CA

69.6%

67.8%

Austin, TX

68.4%

60.1%

Washington, D.C.

65.7%

66.3%

Sacramento, CA

60.8%

60.9%

Seattle, WA

60.7%

60.2%

Minneapolis, MN

59.4%

63.9%

Portland, OR

59.4%

63.3%

Los Angeles, CA

58.9%

59.7%

Philadelphia, PA

58.5%

56.7%

Boston, MA

56.4%

56.7%

Phoenix, AZ

54.2%

58.5%

Denver, CO

54.1%

50.8%

Tampa, FL

51.2%

26.3%

Dallas, TX

50.3%

50.5%

Atlanta, GA

48.3%

49.0%

Raleigh, NC

46.8%

43.3%

New York, NY

45.3%

58.5%

Houston, TX

44.2%

50.0%

Detroit, MI

44.1%

47.5%

Chicago, IL

41.1%

42.4%

Miami, FL

38.5%

38.5%

Las Vegas, NV

38.2%

47.5%

 

To view the full report, including charts and methodology, please visit: https://www.redfin.com/news/real-estate-bidding-wars-october-2020/

About Redfin
Redfin (www.redfin.com) is a technology-powered residential real estate company, redefining real estate in the consumer’s favor in a commission-driven industry. We do this by integrating every step of the home buying and selling process and pairing our own agents with our own technology, creating a service that is faster, better and costs less. We offer brokerage, iBuying, mortgage, and title services, and we also run the country’s #1 real estate brokerage search site, offering a host of online tools to consumers, including the Redfin Estimate. We represent people buying and selling homes in over 90 markets in the United States and Canada. Since our launch in 2006, we have saved our customers over $800 million and we’ve helped them buy or sell more than 235,000 homes worth more than $115 billion.

For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin’s press release distribution list, email [email protected]. To view Redfin’s press center, click here.

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SOURCE Redfin

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Accenture named to 2021 list of Canada’s Top 100 Employers for 11th consecutive year

Canada NewsWire

TORONTO, Nov. 13, 2020 /CNW/ – For the 11th year in a row, Accenture (NYSE: ACN) has been named one of Canada’s Top 100 Employers.

The Canada’s Top 100 Employers ranking, now in its 21st year, is a national competition that identifies employers leading their industries with innovative programs to attract and retain top talent and foster exceptional workplace environments.

“It’s an honour to be recognized again, alongside so many clients and partners, as a leading employer in Canada – especially during a time of unprecedented challenges and change,” said Jeffrey Russell, president of Accenture in Canada. “The past year has underscored why we put the wellbeing of our people first, why we are committed to nurturing an inclusive workforce, and why we invest in talent and skills so that we can emerge stronger together.”

Accenture has been consistently recognized in Canada and globally as an employer of choice. The company has been named to Fortune‘s World’s Most Admired Companies list for 18 consecutive years, DiversityInc‘s Top 50 Companies for Diversity list for 14 consecutive years, and the Refinitiv Diversity & Inclusion Top 100 index, ranking in the top three worldwide for the third straight year.

“Like Canada itself, Accenture employees represent a tremendous variety of cultures, ethnicities, beliefs, backgrounds and languages, and this rich diversity makes our company smarter and more innovative,” said Zahra Jadavji, managing director of inclusion and diversity at Accenture in Canada. “We are proud to be recognized for our commitment and passion to providing an inclusive, open and equitable environment from the top down for all individuals.”

New programs and initiatives that contributed to Accenture being recognized as a top employer include:

  • Supporting Canada’s future workforce: In January 2020, Accenture made a cash and in-kind services grant of more than C$1.1 million to ACCES Employment to develop an artificial intelligence (AI)-powered bot to help newcomers find meaningful careers in Canada. The initiative aligns with Accenture’s Skills to Succeed program, which uses technology to improve employment and entrepreneurship outcomes at scale.

  • Investing in Canada and putting employees first: In January 2020, Accenture held a grand opening for a new Intelligent Operations Centre in St. Catharines, Ontario. As part of an investment in Canada and the Niagara Region, the new centre brought an additional 100 local jobs in marketing, sales, customer care, and IT support. With employees in mind, the new location offers wellness features including a mothers’ room, a meditation and prayer room, and fitness and games areas. Employees also have the capability to work from home and have been since the start of the pandemic.

  • New data studios for intelligent insights: To further expand market reach and help clients achieve breakthrough results, Accenture launched a Toronto Data Studio in December 2019 and Montreal Data Studio in March 2020. Data studio experts work alongside clients to help them capitalize on their data to generate intelligent insights.

  • Focusing on ‘Getting to Equal’: Timed to International Women’s Day, Accenture publishes annual research to help advance the conversation on workplace equality. The latest Getting to Equal thought leadership research shows that while more companies are focusing on equality and employees are concerned about workplace culture, progress remains slow. The report identifies a small percentage of leaders – Culture Makers – who are leading the way by “saying, doing and driving” cultural change.

  • Driving local growth and talent development: Accenture continues to support growth in its regional business markets. During the 2020 fiscal year, Accenture appointed Martine Lapointe as Montreal Office Managing Director and Elizabeth Boright as Alberta Managing Director. With more than 20 years of experience each, both are focused on bringing innovation to Accenture’s clients, attracting top talent and strengthening Accenture’s overall impact in their local communities.

The final selections for Canada’s Top 100 Employers, determined by Mediacorp Canada Inc., the nation’s largest publisher of employment periodicals, represent the top-performing employers in eight criteria fundamental to company success and employee satisfaction: (1) Physical Workplace; (2) Work Atmosphere and Communications; (3) Financial Benefits and Compensation; (4) Health and Family-Friendly Benefits; (5) Vacation and Personal Time-Off; (6) Employee Engagement and Performance; (7) Training and Skills Development, and (8) Community Involvement.

The full list of Canada’s Top 100 Employers for 2021 will appear in The Globe and Mail on Nov. 13.

About Accenture

Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services—all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 506,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at www.accenture.com.

SOURCE Accenture

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More Snacking and Online Purchasing Expected for Holiday 2020

Two out of Three Consumers Plan to Stock Up on Snacks More Now Than Before the Pandemic, with Dips Seeing Dramatic Increase in Lead up to the Holidays Due to Convenience, According to Latest U.S. Snack Index

PR Newswire

PLANO, Texas, Nov. 13, 2020 /PRNewswire/ — As the holidays approach, consumers are expecting their celebrations to look different compared to last year, with half planning to shop for their holiday groceries through an online retailer, up from just 15 percent in 2019, and the majority of consumers – 63 percent – planning to use cooking at home as a way to stay entertained in the coming months.

Frito-Lay, maker of many of America’s favorite snack foods, today announced the latest edition of its U.S. Snack Index survey1, revealing how shopping, cooking and snacking trends have changed this year, and what’s expected to have a lasting impact in 2021 and beyond. 

“Consumers have shifted their behavior with 58 percent snacking more since COVID-19, and shopping through new channels with online adoption up 40 percent,” said Mike Del Pozzo, senior vice president of sales and chief customer officer, Frito-Lay North America. “This holiday season we expect to see more small gatherings and a move away from potlucks, which means more families purchasing the whole meal. In fact, 13 percent expect to spend more on groceries for Thanksgiving this year, so the importance of offering variety and accessibility of America’s favorite snacks is a priority for Frito-Lay this holiday season.”

Additional market trends and U.S. Snack Index highlights show:

300+ percent increase in Americans who plan to shop for holiday foods through an online retailer versus last year.

  • Maintaining health and safety is a top concern (37 percent) for grocery shopping this holiday season, driving more consumers to adopt online grocery shopping.
  • In fact, 50 percent of Americans plan to shop for their holiday groceries through an online retailer, up from just 15 percent in 2019.
  • Snacks are the most likely category to be purchased online for the holidays, with 77% of consumers saying they are likely to do so.

While holidays will look different, food will continue to play a major role.

  • Most Americans (83 percent) plan to spend the same or more on groceries during the holidays.
  • Americans are shopping earlier for holiday groceries. One in five plans to shop over three days earlier than last year to avoid crowds or out-of-stocks (IRI).
  • Holiday gatherings will be much smaller this year: the median number of people at the main Thanksgiving meal is expected to be five this year, down from eight last year (IRI).
  • When it comes to what’s on the holiday spreads, Chicagoans ranked sweet snacks first at 61 percent, San Franciscans preferred chips and dips (58 percent) and over half of Miamians (54 percent) are planning to serve cheese and meat platters.

Consumers are stocking up on snacks more than ever before
.

  • 66 percent of survey respondents say they keep more snacks stocked at home than before the pandemic. 
  • This winter, 54 percent of shoppers are planning to stock up on essentials, with salty snacks the number five category consumers are looking to stockpile.
  • The reason for stocking up right now? 66 percent are concerned about products being out of stock and 58 percent want to reduce exposure to the virus.
  • One main reason why consumers are putting more snacks in their pantries is to add a little more fun to the days at home. 63 percent of survey respondents said they snack as a way to break up their day and 76 percent said eating snacks is a way to treat themselves.
  • Dips have become an increasingly popular snack. Frito-Lay reports a 16 percent increase in the purchase of dips year over year, with consumers citing convenience/not needing to make it from scratch as the primary reason for purchase.

Consumers are grocery shopping more during the week and online.

  • While Saturday and Sunday used to be the traditional shopping days, consumers are now shopping throughout the week as schedules are different, with Wednesday and Thursday seeing an increase in store traffic.
  • eCommerce Grocery also remains high and is expected to stick. The average online basket is up 32 percent YOY and 75 percent of consumers intent to repeat with most recent online grocery provider in the next 30 days.

Cooking returns as most preferred form of entertainment amid a resurgence of COVID – and snack foods are increasingly an ingredient in recipes.

  • Americans are not experiencing as much cooking fatigue as might be expected, only 40 percent indicated they are tired of cooking at home.
  • Nearly two-thirds (63 percent) of respondents plan to use cooking to stay entertained, making it the most popular activity respondents said they’d partake in, amid a resurgence of COVID.
  • And Americans are looking for new ways to spice up with recipes, with 83 percent of respondents saying they have used or would try a snack food as an ingredient in a recipe, with potato chips (31 percent) and tortilla chips (32 percent) the most popular snack food ingredient.
  • 63 percent agreed they need more recipe inspiration, so as a result PepsiCo recently launched MoreSmilesWithEveryBite.com, an online hub of family-friendly recipes featuring popular Frito-Lay snacks and Quaker foods.

Classic flavors are dominant as winter months set in.

  • Americans are turning back to traditional comfort foods this season versus trendy seasonal flavors. For example, 50 percent of respondents say they are excited for classic comfort foods, and only 32 percent said they were excited for Pumpkin Spice. 
  • These preferences also vary regionally, with 54 percent of Chicagoans most looking forward to chili, 40 percent of Dallas residents excited about chicken tortilla soup and 43 percent of New Yorkers leaning toward apple cinnamon flavors.

“These consumer and marketplace changes have enabled us to reevaluate how we ensure our products are always and everywhere,” added Del Pozzo. “Frito-Lay sets itself apart by owning every piece of the seed-to-shelf process, enabling agility to continuously innovate and meet consumer needs.”

For more information, visit: FritoLay.com/SnackIndex.


1

Survey Methodology

This poll was conducted by Morning Consult between October 16-18 among a national sample of 2,200 Adults nationally, 500 adults in Chicago, Dallas, New York City, and Miami, as well as 400 adults in San Francisco. The interviews were conducted online, and the national data were weighted to approximate a target sample of Adults based on age, educational attainment, gender, race, and region. Results from the full survey have a margin of error of plus or minus 2 percentage points.

About Frito-Lay North America

Frito-Lay North America is the $17 billion convenient foods division of PepsiCo, Inc. (NASDAQ: PEP), which is headquartered in Purchase, NY. Learn more about Frito-Lay at the corporate website, http://www.fritolay.com/ and on Twitter http://www.twitter.com/fritolay.

About PepsiCo
PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $67 billion in net revenue in 2019, driven by a complementary food and beverage portfolio that includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. PepsiCo’s product portfolio includes a wide range of enjoyable foods and beverages, including 23 brands that generate more than $1 billion each in estimated annual retail sales.
Guiding PepsiCo is our vision to Be the Global Leader in Convenient Foods and Beverages by Winning with Purpose. “Winning with Purpose” reflects our ambition to win sustainably in the marketplace and embed purpose into all aspects of the business.  For more information, visit www.pepsico.com.

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SOURCE Frito-Lay North America

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Fuwei Films to Report Its Unaudited Financial Results for the Third Quarter of 2020 on November 23, 2020

-Teleconference to be held on November 24, 2020 at 8:00 am ET-

PR Newswire

BEIJING, Nov. 13, 2020 /PRNewswire/ — Fuwei Films (Holdings) Co., Ltd. (Nasdaq: FFHL) (“Fuwei Films” or the “Company”), a manufacturer and distributor of high-quality BOPET plastic films in China, today announced that the Company will report its unaudited financial results for the third quarter of 2020 on Monday, November 23, 2020 after the close of the market.

The Company will host a teleconference on Tuesday, November 24, 2020, at 8:00 a.m. ET / 9:00 p.m.Beijing time to discuss the financial results. To participate in the call, please dial +1-844-369-8770 in North America, or +1-862-298-0840 internationally, approximately 5 minutes prior to the scheduled start time.

A replay of the call can also be accessed via telephone by calling +1-877-481-4010 in North America, or +1-919-882-2331 internationally, and entering the following Conference ID: 38820. The replay will be available until December 8, 2020.

About Fuwei Films

Fuwei Films develops, manufactures and distributes high-quality plastic films using the biaxial oriented stretch technique, also known as BOPET film. Fuwei’s BOPET film is widely used to package food, medicine, cosmetics, tobacco, and alcohol, as well as in the imaging, electronics, and magnetic products industries.

Safe Harbor

This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are subject to risks. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company’s reports filed with the U.S. Securities and Exchange Commission which, among other things, include the significant oversupply of BOPET films resulting from the rapid growth of the Chinese BOPET industry capacity, changes in the international market and trade barriers, especially the uncertainty of the antidumping investigation and imposition of an anti-dumping duty on imports of the BOPET films originating from the People’s Republic of China (“China“) conducted by certain countries; uncertainty around U.S.-China trade war and its effect on the Company’s operation, fluctuations of the RMB exchange rate, and our ability to obtain adequate financing for our planned capital expenditure requirements; uncertainty as to our ability to continuously develop new BOPET film products and keep up with changes in BOPET film technology; risks associated with possible defects and errors in our products; uncertainty as to our ability to protect and enforce our intellectual property rights; uncertainty as to our ability to attract and retain qualified executives and personnel; and uncertainty in acquiring raw materials on time and on acceptable terms, particularly in view of the volatility in the prices of petroleum products in recent years. The forward-looking information provided herein represents the Company’s estimates as of the date of the press release, and subsequent events and developments may cause the Company’s estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company’s estimates of its future financial performance as of any date subsequent to the date of this press release. Actual results of our operations may differ materially from information contained in the forward-looking statements as a result of the risk factors.

For more information, please contact:

In China:

Xiaoli Yu

Investor Relations Officer
+86-133-615-59266
[email protected]

In the U.S.:

Shiwei Yin

Investor Relations
Grayling
+1-646-284-9474
[email protected]

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SOURCE Fuwei Films (Holdings) Co., Ltd.

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Reliv International Reports Third-Quarter Financial Results for 2020

PR Newswire

CHESTERFIELD, Mo., Nov. 13, 2020 /PRNewswire/ — Reliv International, Inc. (NASDAQ:RELV), a marketer of nutritional supplements that promote optimal health, today reported its financial results for the third quarter of 2020.

Reliv reported net sales of $8.7 million for the third quarter of 2020 compared with net sales of $9.1 million in the third quarter of 2019, a decrease of 5.3%. Net sales in the United States, our largest market, decreased by $161,000 in the third quarter of 2020, which represented a 2.4% decrease in net sales when compared to the prior-year quarter. In the third quarter of 2019, net sales in the United States were favorably impacted by the then-recent launch of the RLV line of hemp-extract products and by the announcement of a price increase effective October 1, 2019.

Net sales in Reliv’s foreign markets decreased by $320,000, or 13.9%, in the third quarter of 2020 compared with the prior-year quarter. Net sales in Asia and Europe decreased by 20.3% and 13.5%, respectively, in the third quarter of 2020, as net sales in these regions continue to be heavily impacted by the COVID-19 pandemic. Net sales in Reliv’s foreign markets decreased by 17.0% during the third quarter of 2020 when the impact of foreign currency fluctuation is removed.

Reliv reported a net loss for the third quarter of 2020 of $125,000 (loss per diluted share of $0.07) compared to a net loss of $166,000 (loss per diluted share of $0.09) in the third quarter of 2019. The loss from operations for the third quarter of 2020 was $167,000 compared to a loss from operations of $85,000 in the same period in 2019. Results from operations declined primarily as the result of the decrease in net sales and gross margin.

Net sales for the first nine months of 2020 were $27.0 million, which represents a 0.3% increase from the same period in 2019. Net sales in the United States increased by 3.8% and net sales in Reliv’s foreign markets decreased by 9.7% in the first nine months of 2020 compared with the same period last year. Net sales in Reliv’s foreign markets decreased by 10.1% during the first nine months of 2020 when the impact of foreign currency fluctuation is removed.

Reliv reported net income of $339,000, or $0.19 per diluted share in the first nine months of 2020, compared to a net income of $70,000 or $0.04 per diluted share in the same period of 2019.

Reliv had cash and cash equivalents of $3.3 million as of September 30, 2020, compared to $1.6 million as of December 31, 2019. Net cash provided by operating activities was $772,000 in the first nine months of 2020. 

As of September 30, 2020, Reliv had 24,850 active Distributors – a decrease of 4.1% from September 30, 2019 – of which 3,310 are Master Affiliate level and above. The number of Master Affiliates increased by 5.4% compared to the prior year total, driven by advancements in the Philippines. Master Affiliate is the level at which distributors are eligible to earn generation royalties. As of September 30, 2020, Reliv had 13,200 retail customers and Preferred Customers in total – a decrease of 12.0% from September 30, 2019.  The actual number of customers is much higher as many Distributors (approximately 74% in the U.S.) join Reliv to purchase our products at a discount and do not participate in the business opportunity and the count also does not include those customers that buy product directly from distributors rather than from the Company. 

“We believe Reliv is positioned well in the nutrition and work from home industries. The challenges caused by the COVID-19 pandemic continue, but we’re pleased with how our field has adapted with more frequent use of online technology to communicate and operate,” commented Ryan A. Montgomery, Chief Executive Officer. “We believe the work done this summer and early fall with virtual conferences and other tools will lead to stronger sales for the remainder of the year.”  

Reliv has hosted online conferences targeted to its North American and European regions over the past three months and will host one for its Asia-Pacific region in November.  “We are pleased with the content created and presented to much of the Reliv world, not only for its immediate impact, but the long-term value created by the mobile app and online content for customer acquisition and distributor training,” said Montgomery.

In international operations, net sales in Reliv’s key markets in Europe and Asia continue to be challenged as local COVID-19 guidelines still are generally more restrictive than those in the United States.  “Foreign sales, particularly in the Philippines, continue to be dampened by the pandemic,” noted Montgomery.  “However, we believe we still have a solid base of business in our foreign markets and feel sales will rebound as the world emerges from this global crisis.  We firmly believe the efficacy of our products and value of our home-based business opportunity play a role in this recovery.”

Last month, Reliv announced its intention to effect a reverse stock split, followed by a forward split of its common stock as part of a plan to delist its stock from NASDAQ and suspend its filing obligations to the U.S. Securities and Exchange Commission.  Reliv believes the costs of being a public reporting company far outweigh its benefits.  Reliv expects the plan to be complete on or after November 29, 2020.

About Reliv International, Inc.

Reliv International, based in Chesterfield, MO, develops and markets nutritional supplements that promote optimal nutrition. Reliv supplements address core nutrition, targeted solutions and overall wellness and now include a line of RLV hemp extracts. Reliv is the exclusive provider of LunaRich® products, which optimize levels of lunasin, a soy peptide that works at the epigenetic level to promote optimal health. The company sells its products through an international direct selling system of independent distributors in 13 countries. Learn more about Reliv at reliv.com, or on Facebook, Twitter or Instagram.

Statements made in this news release that are not historical facts are “forward-looking” statements (as defined in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties and are subject to change at any time. These forward-looking statements may include, but are not limited to, statements containing words such as “may,” “should,” “could,” “would,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue” or similar expressions. Factors that could cause actual results to differ are identified in the public filings made by Reliv with the Securities and Exchange Commission. More information on factors that could affect Reliv’s business and financial results are included in its public filings made with the Securities and Exchange Commission, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, copies of which are available on the Company’s web site, reliv.com.

–FINANCIAL HIGHLIGHTS FOLLOW –

 


Reliv International, Inc. and Subsidiaries


Condensed Consolidated Balance Sheets

September 30

December 31

2020

2019

(Unaudited)

(Audited)


Assets

Current Assets:

Cash and cash equivalents

$3,339,675

$1,630,779

Accounts receivable, less allowances of

$5,000 in 2020 and 2019

58,157

107,369

Notes & accounts receivables & deposits – related parties

1,106,221

1,099,228

Inventories

2,828,738

2,701,688

Other current assets

490,620

326,454

Total current assets

7,823,411

5,865,518

Notes & accounts receivables – related parties

2,331,844

2,418,921

Other assets

2,343,238

2,581,717

Net property, plant and equipment

4,208,008

4,440,840

Total Assets

$16,706,501

$15,306,996


Liabilities and Stockholders’ Equity

Accounts payable, accruals & other current liabilities

$3,696,451

$3,489,157

Long-term debt – current

977,229

500,000

Long-term debt, less current portion

384,771

–

Other noncurrent liabilities

214,209

216,196

Stockholders’ equity

11,433,841

11,101,643

Total Liabilities and Stockholders’ Equity

$16,706,501

$15,306,996


Consolidated Statements of Operations

Three months ended September 30

Nine months ended September 30

2020

2019

2020

2019

(Unaudited)

(Unaudited)

(Unaudited)

(Unaudited)

Product sales

$7,935,387

$8,395,941

$24,855,366

$24,809,979

Freight income

489,479

521,192

1,494,281

1,521,014

Other revenue

243,478

231,732

617,922

564,389

Net Sales

8,668,344

9,148,865

26,967,569

26,895,382

Costs and expenses:

  Cost of goods sold

2,290,223

2,497,993

7,147,554

7,200,716

  Distributor royalties and commissions

2,801,005

2,939,187

8,719,538

8,721,852

  Selling, general and administrative

3,744,220

3,796,276

11,023,006

11,224,748

Total Costs and Expenses

8,835,448

9,233,456

26,890,098

27,147,316

Income (loss) from operations

(167,104)

(84,591)

77,471

(251,934)

Other income (expense):

Interest income

45,904

41,548

124,614

137,028

Interest expense

(6,717)

(24,250)

(20,755)

(39,737)

Other income (expense):

56,202

(12,564)

86,234

(13,224)

Gain on sale of fixed assets

–

–

–

434,549

Income (loss) before income taxes

(71,715)

(79,857)

267,564

266,682

Provision (benefit) for income taxes

53,000

86,000

(71,000)

197,000

Net income (loss)

($124,715)

($165,857)

$338,564

$69,682

Earnings (loss) per common share – Basic & Diluted

($0.07)

($0.09)

$0.19

$0.04

Weighted average shares 

1,746,000

1,746,000

1,746,000

1,746,000

 


Reliv International, Inc. and Subsidiaries


Net sales by Market

(in thousands)


Three months ended September 30,


Change from


2020


2019


prior year


Amount


% of Net
Sales


Amount


% of Net



Sales


Amount


%

United States

$          6,682

77.1%

$          6,843

74.8%

$           (161)

-2.4%

Australia/New Zealand

148

1.7%

135

1.5%

13

9.6%

Canada

128

1.5%

140

1.5%

(12)

-8.6%

Mexico

166

1.9%

156

1.7%

10

6.4%

Europe

629

7.3%

727

7.9%

(98)

-13.5%

Asia

915

10.5%

1,148

12.6%

(233)

-20.3%

Consolidated Total

$          8,668

100.0%

$          9,149

100.0%

$         (481)

-5.3%


Net sales by Market

(in thousands)


Nine months ended September 30,


Change from


2020


2019


prior year


Amount


% of Net
Sales


Amount


% of Net
Sales


Amount


%

United States

$        20,613

76.5%

$        19,859

73.8%

$            754

3.8%

Australia/New Zealand

437

1.6%

445

1.6%

(8)

-1.8%

Canada

412

1.5%

479

1.8%

(67)

-14.0%

Mexico

420

1.6%

444

1.7%

(24)

-5.4%

Europe

2,193

8.1%

2,422

9.0%

(229)

-9.5%

Asia

2,893

10.7%

3,246

12.1%

(353)

-10.9%

Consolidated Total

$        26,968

100.0%

$        26,895

100.0%

$              73

0.3%

 


Reliv International, Inc. and Subsidiaries


Retail and Preferred Customers/Active Distributors/Master Affiliates and Above by Market


As of 9/30/2020

Retail Customers

Preferred Customers

Active Distributors

Total Customers
and Distributors

Master
Affiliates and
Above

United States

3,680

2,050

17,000

22,730

2,060

Australia/New Zealand

50

280

660

990

80

Canada

90

30

460

580

70

Mexico

30

140

1,190

1,360

90

Europe

730

560

1,540

2,830

260

Asia

850

4,710

4,000

9,560

750

Consolidated Total

5,430

7,770

24,850

38,050

3,310


As of 9/30/2019

Retail Customers

Preferred Customers

Active Distributors

Total Customers
and Distributors

Master
Affiliates and
Above

United States

3,610

1,540

17,810

22,960

2,070

Australia/New Zealand

50

220

670

940

70

Canada

90

30

500

620

70

Mexico

20

110

1,170

1,300

90

Europe

740

750

1,690

3,180

310

Asia

2,390

5,450

4,060

11,900

530

Consolidated Total

6,900

8,100

25,900

40,900

3,140


Change in %

Retail Customers

Preferred Customers

Active Distributors

Total Customers
and Distributors

Master
Affiliates and
Above

United States

1.9%

33.1%

-4.5%

-1.0%

-0.5%

Australia/New Zealand

0.0%

27.3%

-1.5%

5.3%

14.3%

Canada

0.0%

0.0%

-8.0%

-6.5%

0.0%

Mexico

50.0%

27.3%

1.7%

4.6%

0.0%

Europe

-1.4%

-25.3%

-8.9%

-11.0%

-16.1%

Asia

-64.4%

-13.6%

-1.5%

-19.7%

41.5%

Consolidated Total

-21.3%

-4.1%

-4.1%

-7.0%

5.4%

The table above sets forth, as of September 30, 2020 and 2019, the number of our Retail Customers/Preferred Customers/Active Distributors and Master Affiliates and above.  The total number of active distributors includes Master Affiliates and above. We define an active retail or preferred customer as one that has placed a product order in the prior twelve months, and we define an active distributor as one that enrolls as a distributor or renews his or her distributorship during the prior twelve months. Many individuals join Reliv as distributors to obtain our products at a discount and may not participate in the Reliv business opportunity. Master Affiliates and above are distributors that have attained the highest level of discount and are eligible for royalties generated by Master Affiliate groups in their downline organization.  

 

For more information, contact:
Steve Albright                                                      
Chief Financial Officer 
(636) 733-1305

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/reliv-international-reports-third-quarter-financial-results-for-2020-301172433.html

SOURCE Reliv International, Inc.

Posted on

BBTV Holdings Reports Record Revenues and Q3 2020 Results

BBTV Holdings Reports Record Revenues and Q3 2020 Results

Recent Highlights

  • BBTV achieved record quarterly revenues of $120.7 Million, a 31% increase in revenues on a YoY basis, driven by growth in Views and improved ad sell through rates
  • BBTV experienced an 18% increase in Views to 121.2 billion from 102.7 billion in Q3 2019 across various platforms such as YouTube, solidifying its global leadership among media-tech companies
  • Raised $172.4 million in proceeds from share offering substantially subscribed to by leading financial institutions, enabling acquisition of operating business and cash to execute on growth strategies

VANCOUVER, British Columbia–(BUSINESS WIRE)–
BBTV Holdings Inc. (TSX: BBTV) (the “Company”), a media tech company that uses technology enabled solutions to help content owners become more successful, today announced the financial results for its operating business BroadbandTV Corp. for the three-month period ended September 30, 2020. All currency is in Canadian dollars unless otherwise noted.

“We are very pleased with our performance during Q3, as we executed on our strategy to increase our global scale and experienced strong growth in audience views of our content, accelerated by beneficial secular tailwinds including television viewers ‘cutting the cord’ to watch digital video on demand,” said Shahrzad Rafati, Chairperson, Founder and CEO of BBTV. “The global COVID-19 pandemic has accelerated the shift of consumption from mainstream media to digital media, and we are seeing advertisers follow these audiences online as digital advertising rebounded in the third quarter following a temporary slowdown in growth in Q2.”

“Following the quarter, we successfully completed our IPO and listed on the TSX. We are committed to executing on our growth strategies including investments in our technology, scaling and expanding our higher margin Plus Solutions as well as accretive strategic acquisitions to power our Base and Plus Solutions,” added Rafati. “The strong growth in digital content consumption such as short form videos means our unique solutions are in more demand than ever, as content owners need our platform expertise to help them increase views and improve revenue generation across the growing number of digital platforms while allowing them to focus on their core competency – content creation.”

In accordance with its recent initial public offering and acquisition of RTL’s share of the Company, which occurred subsequent to the close of its third quarter September 30, 2020, the Company is providing the results of operations of BroadbandTV Corp. only at this time. BBTV Holdings, is a holding company which acquired the RTL interest, but other than transaction related costs, it does not currently generate revenue, and operating expenses for the quarter are expected to be below $400,000, excluding IPO and RTL transaction related costs. The financial statements for the Company will be filed separately. A pro-forma for the period ended June 30, 2020, which combines the BroadbandTV Corp and BBTV Holdings entity post the transaction is included in the Prospectus. A pro-forma for the period ended Sept 30, 2020 will be filed at a later date.

Revenue for the three months ended September 30, 2020 (“Q3 2020”) increased by $28.3 million or 31% as compared to the three months ended September 30, 2019 (“Q3 2019”), primarily driven by our continued focus on acquiring content that is brand-safe with audiences in geographies with high RPMs1 or high RPM1 growth, as well as corresponding increases across existing Views and RPMs1. Revenue for the nine months ended September 30, 2020 (“YTD 2020”) increased by $43.6 million or 16% as compared to the nine months ended September 30, 2019 (“YTD 2019”), primarily driven by the same factors impacting Q3 2020, partially offset by the negative impact on advertising spend, including digital advertising, in the second quarter of 2020 stemming from the COVID-19 pandemic which has subsequently rebounded.

Gross profit for Q3 2020 decreased by $0.4 million or 4% compared to Q3 2019. Gross profit for YTD 2020 decreased by $1.5 million or 6% compared to YTD 2019. The lower gross margin was primarily due to content mix, more specifically; 1) less advertising on kids content, 2) the impact of COVID-19 on Plus Solutions from less content being produced, and 3) the previous penetration pricing efforts2. We expect gross margins to improve as some of the temporary effects related with COVID-19 wear off, as we expand our Plus Solutions, gain greater market share, and execute our accretive M&A strategy.

Although Plus Solutions were more heavily impacted by COVID-19, Plus Solutions revenue increased 27% from July to September during Q3 2020 and Direct Advertising Sales, in particular, is showing signs of recovery growing 55% from July to September. Additionally, we are entering our seasonal high revenue period, Q4. Accordingly, we are optimistic that Plus Solution revenue will return to higher growth in Q4 2020.

Adjusted EBITDA for Q3 2020 decreased by $0.8 million compared to Q3 2019. Adjusted EBITDA for YTD 2020 decreased by $4.2 million compared to YTD 2019. The higher loss for the current period was primarily due to the lower margins realized as per above, as well as some additional investments in operating expenses associated with Plus Solution initiatives.

Net Loss for Q3 2020 decreased by $0.8 million compared to Q3 2019. The net loss YTD 2020 was $11.5 million.

IPO Update and Financial Position

On Oct. 28, 2020, the Company completed its initial public offering, and raised approximately $172.4 million in gross proceeds through the issuance of 10,775,000 subordinate voting shares at $16 per share (the “Offering”), and currently has approximately 20.5 million shares outstanding on pro-forma basis. The Company utilized the net proceeds of the Offering to complete the acquisition of 100% of the issued and outstanding equity of BroadbandTV Corp. The Company intends that the remaining Offering proceeds will be used to pay for expenses related to the Offering, and to fund business operations, strategic acquisitions and growth initiatives. Immediately following completion of the Offering, the Company will have on a consolidated basis, approximately $10 million in cash and cash equivalents, after fees and expenses and $46 million in long term debt in the form of convertible notes.

Webcast and Conference Call Information

The Company will hold a conference call today at 1:00 pm EST hosted by Ms. Shahrzad Rafati, Chairperson and CEO, and Mr. Todd Tappin, Chief Financial Officer. Ms. Rafati and Mr. Tappin will review the Q3 results and discuss: 1- The Company’s over-arching growth strategy, 2- The Company’s continued resilience and strong performance during the COVID-19 pandemic and 3- the overall outlook for the business. A question and answer session will follow the corporate update.

All interested parties can join the call by dialing (647) 427-2311 or (866) 521-4909 and referencing BBTV Holdings Third Quarter Earnings Call, conference ID number 4798154. Please dial in 15 minutes prior to the call to secure a line. A live audio webcast of the conference call will also be available at investors.bbtv.com. Please connect at least 15 minutes prior to the conference call to ensure adequate time for any software download that may be required to join the webcast. A replay will be available shortly after the call for 21 days. To access the replay, please dial (800) 585-8367 or (416) 621-4642 and enter access code 4798154.

Footnotes:

1- “RPMs” or “Revenue per one thousand video Views” means the Advertising Revenue for every thousand video Views generated by the Company’s owned and licensed digital content. Advertising types include pre/mid/post-roll advertisements that run on the Company’s owned and licensed content across digital platforms. The Company does not provide a reconciliation for RPMs as there are no directly comparable IFRS measures for the components that make up RPMs.

2- Penetration pricing strategy means strategy employed to capture market share relating to prior periods for Base Solutions where contracts are one year long.

About BBTV

BBTV is a media and technology company headquartered in Vancouver, Canada that uses technology enabled solutions to help content owners become more successful. BBTV is an enabling platform with a stated mission of advancing the world through the democratization of content. From individual content creators to global media companies, BBTV monetizes the media of content owners through end-to-end management, distribution and monetization solutions, powered by its innovative VISO Platform, including related proprietary technology, while allowing content owners to focus on their core competency – content creation. In June 2020, BBTV had the second most unique monthly viewers among digital platforms with 596 million globally, who consumed more than 54 billion minutes of video content, the most among media companies3www.bbtv.com

3- Calculations and classifications made by BBTV based on data from Comscore contained in Comscore’s “Top 12 Countries = June 2020 comScore Video Metrix Media Trend – Multi-Platform – Top 100 Video Properties Report”.

Forward-Looking Statements

This press release contains forward‐looking information within the meaning of applicable securities legislation, including statements with regards to the timing of the release of the third quarter results and related conference call, the Company’s growth and capital markets objectives, and expectations regarding future results, including without limitation, revenue, margins and other financial results, which forward-looking information reflects the Company’s current expectations regarding future events. Forward‐looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward‐looking information. Such risks and uncertainties include, but are not limited to, having to change anticipated timing of our release and conference call, failure to meet our growth or capital markets objectives, or achieve our expected results, or other future adverse events, and the factors discussed under “Risk Factors” in the final prospectus of the Company dated October 22, 2020. The Company does not undertake any obligation to update such forward‐looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

Reconciliations of Non-IFRS Measures

Adjusted EBITDA and Adjusted EBITDA Margin

In thousands of Canadian Dollars

(except percentages)

Three Months Ended

September 30,

  

Nine Months Ended

September 30,

 

2020

2019

  

2020

2019

Net loss

($1,951)

($2,712)

 

($11,542)

($6,935)

Amortization and depreciation

$664

$730

 

$2,071

$2,020

Share-based compensation

$176

$21

 

$236

$100

Unrealized and realized foreign exchange

($958)

$796

 

$1,157

($200)

Interest expense

$985

$905

 

$2,926

$2,658

Other expense (income)

$291

($74)

 

$288

($248)

Receivable factoring banking fees

$116

$229

 

$416

$467

Transaction-related costs

$54

–

 

$69

$238

Provision for income taxes

($99)

$144

 

($155)

$1,528

Adjusted EBITDA

($722)

$39

 

($4,534)

($372)

Total revenues

$120,676

$92,405

 

$308,182

$264,561

Adjusted EBITDA Margin

(0.6%)

0.0%

 

(1.5%)

(0.1%)

BBTV-F

For Further Information:

BBTV Holdings

Media:

Dan Gamble, Head of PR and Corporate Communications

[email protected]

+1778 873 0422

Investors:

[email protected]

KEYWORDS: North America Canada

INDUSTRY KEYWORDS: Other Technology General Entertainment Technology Entertainment TV and Radio

MEDIA:

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Posted on

Americas Gold and Silver Corporation Reports Third Quarter 2020 Results and Provides Operations Update

Americas Gold and Silver Corporation Reports Third Quarter 2020 Results and Provides Operations Update

TORONTO–(BUSINESS WIRE)–
Americas Gold and Silver Corporation (TSX: USA) (NYSE American: USAS) (“Americas” or the “Company”), a growing North American precious metals producer, reports consolidated financial and operational results for the third quarter of 2020 along with an operations update.

This earnings release should be read in conjunction with the Company’s Management’s Discussion and Analysis, Financial Statements and Notes to Financial Statements for the corresponding period, which have been posted on the Americas Gold and Silver Corporation SEDAR profile at www.sedar.com, and on its EDGAR profile at www.sec.gov, and which are also available on the Company’s website at www.americas-gold.com. All figures are in U.S. dollars unless otherwise noted.

Operational and Third Quarter Financial Highlights

  • Revenue of $7.3 million and a net loss of $6.2 million for Q3-2020 or a loss of ($0.05) per share
  • Year-to-date operating metrics were largely unchanged in Q3-2020 from Q2-2020 due to the illegal blockade at the Cosalá Operations, suspension of operating metrics during the Galena Complex recapitalization plan (“Recapitalization Plan”), and ongoing pre-production at Relief Canyon
  • Galena Complex silver production increased by 25% year-over-year while Galena lead production increased by 65%, benefitting from the Recapitalization Plan described in detail below
  • At Relief Canyon, the radial stacker is expected to be installed and operating in the coming week. The Company anticipates the increase in production from the return of the radial stacker will allow the Company to declare commercial production by the end of Q4-2020
  • Since placing ore on the 6W leach pad on August 4, 2020, ore leaching has performed within expected norms
  • Benefits from the Galena Complex Recapitalization Plan are materializing including the significant increase to the mineral resources. Measured and indicated silver resource, as of June 30, 2020, increased by 36% to 37.3 million ounces1 and inferred silver resource increased by over 100% to 78.6 million ounces1. This is based on only 33% of Phase 1 planned drilling and further increases are expected as the drill program continues
  • The Company finalized the option payment for the San Felipe project and paid the remaining $3.75 million plus VAT obligation in common shares of the Company on October 8, 2020. The San Felipe project is now 100% owned by the Company and contains an indicated silver resource of over 9 million ounces and an inferred silver resource of over 3 million ounces
  • The Company had a cash balance of $22.8 million as at September 30, 2020

“The return of the radial stacker, the gating item to declaring commercial production at Relief Canyon, is underway and is expected to be in service in the coming week. With the increased daily production from the stacker, we are focused on declaring commercial production at Relief Canyon before the end of Q4-2020,” stated Americas Gold and Silver President & CEO Darren Blasutti. “The Galena Complex Recapitalization Plan continues to pay enormous dividends, beyond increased year-over-year production, as we saw from the recent increase to the mineral reserves and resources. We successfully added approximately 10 million silver ounces to the measured and indicated resource and approximately 40 million silver ounces to the inferred resource, representing increases of 36% and over 100% respectfully. This increase was based on only 33% of planned Phase 1 drilling and we are confident that we will see even larger increases to next year’s resource update based on the remaining drill program.”

Relief Canyon

The Company’s radial stacker, which suffered a structural failure in Q2-2020, is in transit. Upon arrival, the stacker is expected to resume service within a week after a brief commissioning period. The radial ore stacker will allow ore placement to reach the design rate of approximately 16,000 tons per day. The increased daily stacking rate will allow the operation to accelerate the amount of material placed on the leach pad, increase the area under leach, increase daily gold production, and enable the Company to declare commercial production.

The Company continues to anticipate commercial production will be reached in Q4-2020, setting the operation up for a strong 2021.

Galena Complex

The Galena Complex is already benefitting from the renewed exploration focus as evident from the increased year-over-year production, updated mineral reserve and resources estimate released on September 14, 2020 with an effective date of June 30, 2020. Based on only 33% of the Phase 1 drilling plan, measured and indicated silver resources on a 100% basis (60% Company/40% Eric Sprott) increased from 27.4 million ounces to 37.3 million ounces and inferred silver resources increased from 39.0 million ounces to 78.6 million ounces. This represents a 36% and 101% increase, respectively, from previously reported estimates.

On October 22, 2020, the Company released an additional exploration update highlighting the Complex’s continued successful results. The first hole targeting the “triple point”, the intersection of the 175, 185 and Silver Veins, crossed all three veins approximately 75 meters below current infrastructure and 75 meters above the expected convergence point. Drilling of the second deeper hole has commenced to pierce the projected convergence area. Referencing Hole 55-153:

  • 582 g/t silver and 30.7% lead (or 1,695 g/t AgEq2) over 2.2 meters3 (185 Vein)
  • 219 g/t silver and 9.5% lead (or 564 g/t AgEq) over 1.9 meters (175 Vein)
  • 271 g/t silver and 2.3% lead (or 365 g/t AgEq) over 1.9 meters (Silver Vein)

Earlier drilling of the 360 Complex from the 4300 Level was an important contributor to the increase in the mineral resource estimates as of June 30, 2020. Since this date, the Company drilled holes 43-246 and 43-247 which intersected 8 closely spaced, parallel veins including 4 newly discovered veins. These veins are close to existing infrastructure with good grades and minable widths with full assay results detailed in the 360 Complex section. Key intercepts from 43-246 and 43-247 include and hole 43-239 include:

  • Hole 43-246: 548 g/t silver and 18.9% lead (or 1,239 g/t AgEq) over 3.4 meters
  • Hole 43-247: 235 g/t silver and 19.7% lead (or 944 g/t AgEq) over 6.6 meters
  • Hole 43-239: 809 g/t silver and 37.2% lead (or 2,148 g/t AgEq) over 0.6 meters

Continued drilling of the 72 Vein area yielded more strong results and will be followed up from new drill stations in early 2021.

  • Hole 55-152: 1,783 g/t silver and 2.3% Cu (or 2,018 g/t AgEq) over 0.3 meters

A full table results can be found at: https://americas-gold.com/site/assets/files/4297/dr20201022.pdf.

The Company is targeting further mineral resource additions for the remainder of Phase 1 drilling through June 2021 with expectations of least 50 million ounces of silver.

Cosalá Operations

In August 2020, the Company announced that the illegal blockade had been resolved to permit some Company personnel the opportunity to re-enter the mine operations. This access has not been maintained. With the re-opening of Mexican government offices in August, the Company’s employees were expected to vote in September 2020 for new union representation and did so on September 17. In advance of the vote, a number of irregularities came to light, which indicated that there could not be a fully democratic vote with freedom of association.

As a result, the Company does not believe there are conditions currently present to invest the required capital to re-start the Cosalá Operations. The Company continues to work with all legitimate stakeholders and remains hopeful that a resolution, consistent with the rule of law and featuring an election free from threats and intimidation, can be achieved so that operations can re-commence in the near term.

Due to the illegal blockade, the Cosalá Operations did not operate during Q3-2020 and operated for only the first 26 days of 2020. As a result, quarterly and year-to-date operating results are not generally comparable with previous periods.

Spot silver prices have increased significantly from a low of almost $12.00 per ounce in March 2020 to over $28.00 per ounce in September 2020. In 2019, the Company spent approximately $1.5 million on developing into the Upper Zone of the San Rafael mine which contains significantly higher silver grades than the Main Zone. With the development into the Upper Zone, the Company anticipates that it will be able to increase silver production, allowing it to benefit from the significant increase in the silver price upon resolution of the illegal blockade.

San Felipe

The Company finalized the option agreement for the San Felipe project with Minera Hochschild Mexico S.A. de C.V. through payment of the remaining the $3.75 million plus VAT obligation in common shares of the Company issued on October 8, 2020.

The Company now owns 100% of the San Felipe project, which is located 130 km northeast of Hermosillo, Sonora, Mexico. The San Felipe project has an indicated mineral resource estimate of 4.7 million tonnes grading 5.36% zinc, 60 g/t silver and 2.46% lead and a mineral inferred resource is estimate of 2.0 million tonnes grading 3.50% zinc, 47 g/t silver and 1.41% lead with an effective date of June 30, 2020.

Consolidated Financial and Consolidated Production Results

Consolidated operating results from Q3-2020 were generally not comparable to Q3-2019 due to the illegal blockade at the Cosalá Operations, and the Recapitalization Plan at the Galena Complex. The Cosalá Operations were put on care and maintenance in response to the illegal blockade at the end of January 2020. Consolidated gross revenue decreased by $5.2 million during Q3-2020 compared to Q3-2019 primarily due to the illegal blockade preventing all access to the Cosalá Operations.

Further information concerning the consolidated and individual mine operations is included in the Company’s third quarter Condensed Interim Consolidated Financial Statements for the three months and nine months ended September 30, 2020 and Management’s Discussion and Analysis for the three months and nine months ended September 30, 2020.

About Americas Gold and Silver Corporation

Americas Gold and Silver Corporation is a high-growth precious metals mining company with multiple assets in North America. The Company’s newest asset, the Relief Canyon mine in Nevada, USA, has poured first gold and is expected to ramp up to full production over the course of 2021. The Company also owns and operates the Cosalá Operations in Sinaloa, Mexico and manages the 60%-owned Galena Complex in Idaho, USA. The Company has completed the outstanding option acquisition agreement for the San Felipe development project in Sonora, Mexico. For further information, please see SEDAR or www.americas-gold.com.

Qualified Persons

Daren Dell, P.Eng., Chief Operating Officer, who is an employee of the Company and a “qualified person” under National Instrument 43-101, has approved the applicable contents of this news release.

Cautionary Statement on Forward-Looking Information:

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information includes, but is not limited to, Americas Gold and Silver’s expectations, intentions, plans, assumptions and beliefs with respect to, among other things, estimated production rates and results for gold, silver and other precious metals, as well as the related costs, expenses and capital expenditures, the Company’s construction, production, development plans and performance expectations at the Relief Canyon Mine, its ability to finance, develop and operate Relief Canyon, including the anticipated timing of commercial production at Relief Canyon, the expected timing of delivery of the radial stacker to Relief Canyon and the timing of resumption of service and operations of the radial stacker and expected increase in production thereafter, the resumption of mining and processing operations at the Company’s Cosalá Operations following the end of the illegal blockade and expected silver production levels at the Cosalá Operations, the effect of temporary restrictions on all non-essential businesses in Mexico resulting from the COVID-19 pandemic on the Company’s Cosalá Operations, the expected drilling results and potential increase in resources to be realized at the Galena Complex in connection with the Recapitalization Plan, the Company’s plans with respect to the EC120 zone and the San Felipe project. Often, but not always, forward-looking information can be identified by forward-looking words such as “anticipate”, “believe”, “expect”, “goal”, “plan”, “intend”, “potential’, “estimate”, “may”, “assume” and “will” or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions, or statements about future events or performance. Forward-looking information is based on the opinions and estimates of Americas Gold and Silver as of the date such information is provided and is subject to known and unknown risks, uncertainties, and other factors that may cause the actual results, level of activity, performance, or achievements of Americas Gold and Silver to be materially different from those expressed or implied by such forward-looking information. With respect to the business of Americas Gold and Silver, these risks and uncertainties include risks relating to widespread epidemics or pandemic outbreak including the COVID-19 pandemic; the impact of COVID-19 on our workforce, suppliers and other essential resources and what effect those impacts, if they occur, would have on our business, including our ability to access goods and supplies, the ability to transport our products and impacts on employee productivity, the risks in connection with the operations, cash flow and results of the Company relating to the unknown duration and impact of the COVID-19 pandemic; interpretations or reinterpretations of geologic information; unfavorable exploration results; inability to obtain permits required for future exploration, development or production; general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; fluctuating mineral and commodity prices; the ability to obtain necessary future financing on acceptable terms or at all; the ability to develop, complete construction, bring to production and operate the Relief Canyon Project; and risks associated with the mining industry such as economic factors (including future commodity prices, currency fluctuations and energy prices), ground conditions and other factors limiting mine access, failure of plant, equipment, processes and transportation services to operate as anticipated, environmental risks, government regulation, actual results of current exploration and production activities, possible variations in ore grade or recovery rates, permitting timelines, capital and construction expenditures, reclamation activities, labor relations or disruptions, social and political developments and other risks of the mining industry. The potential effects of the COVID-19 pandemic on our business and operations are unknown at this time, including the Company’s ability to manage challenges and restrictions arising from COVID-19 in the communities in which the Company operates and our ability to continue to safely operate and to safely return our business to normal operations. The impact of COVID-19 on the Company is dependent on a number of factors outside of its control and knowledge, including the effectiveness of the measures taken by public health and governmental authorities to combat the spread of the disease, global economic uncertainties and outlook due to the disease, and the evolving restrictions relating to mining activities and to travel in certain jurisdictions in which it operate. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Readers are cautioned not to place undue reliance on such information. Additional information regarding the factors that may cause actual results to differ materially from this forward‐looking information is available in Americas Gold and Silver’s filings with the Canadian Securities Administrators on SEDAR and with the SEC. Americas Gold and Silver does not undertake any obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors which affect this information, except as required by law. Americas Gold and Silver does not give any assurance (1) that Americas Gold and Silver will achieve its expectations, or (2) concerning the result or timing thereof. All subsequent written and oral forward‐looking information concerning Americas Gold and Silver are expressly qualified in their entirety by the cautionary statements above.

1 Figures shown on 100% basis. The Galena Complex is 60% owned by the Company and 40% owned by Eric Sprott.

2 AgEq was calculated using metal prices of $20.00/oz silver, $3.00/lb copper and $1.05/lb lead.

3 Meters represent “True Width” which is calculated for significant intercepts only and based on orientation axis of core across the estimated dip of the vein.

For more information:

Stefan Axell

VP, Corporate Development & Communications

Americas Gold and Silver Corporation

416-874-1708

Darren Blasutti

President and CEO

Americas Gold and Silver Corporation

416-848-9503

KEYWORDS: North America Canada

INDUSTRY KEYWORDS: Mining/Minerals Natural Resources

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Rocket Pharmaceuticals Receives Funding from the California Institute for Regenerative Medicine for Phase 1 Clinical Trial of RP-L401 for Infantile Malignant Osteopetrosis

Rocket Pharmaceuticals Receives Funding from the California Institute for Regenerative Medicine for Phase 1 Clinical Trial of RP-L401 for Infantile Malignant Osteopetrosis

— ~$3.7 Million Clinical Grant to Fund U.S. Phase 1 Study of RP-L401 Gene Therapy for Infantile Malignant Osteopetrosis —

NEW YORK–(BUSINESS WIRE)–
Rocket Pharmaceuticals, Inc. (NASDAQ: RCKT) (“Rocket”), a clinical-stage company advancing an integrated and sustainable pipeline of genetic therapies for rare childhood disorders, today announces that the California Institute for Regenerative Medicine (CIRM) has awarded Rocket a $3.7 million CLIN2 grant award to support the clinical development of its lentiviral vector (LVV)-based gene therapy, RP-L401, for the treatment of Infantile Malignant Osteopetrosis (IMO), a rare, severe monogenic bone resorption disorder characterized by skeletal deformities, neurologic abnormalities and bone marrow failure. The CIRM was founded in 2004 following the passing of Proposition 71 or the California Stem Cell Research and Cures Initiative, which allowed $3 billion in state funding for stem cell research conducted in California. This will be Rocket’s second CIRM grant after receiving one in 2019 for the development of the company’s gene therapy for Leukocyte Adhesion Deficiency-I (LAD-I).

“We’re grateful the CIRM has recognized the promise of RP-L401 for IMO, a devastating pediatric rare disease for which the primary treatment option is allogeneic bone marrow transplant,” said Jonathan Schwartz, M.D. Chief Medical Officer and Senior Vice President of Rocket. “RP-L401 could be a potentially curative treatment for this devastating disorder that affects children at a young age, and we are thankful to have this meaningful support from the CIRM to move our program forward for these families.”

Rocket’s Investigational New Drug Application (IND) for RP-L401 was accepted by the U.S. Food and Drug Administration (FDA) in June of 2020, and the gene therapy received Fast Track designation from the FDA in August 2020. Proceeds from the grant will help fund clinical trial costs, as well as provide manufactured drug product for Phase 1 patients enrolled at the U.S. clinical trial site, University of California, Los Angeles, led by principal investigator Donald B. Kohn, M.D., Professor of Microbiology, Immunology and Molecular Genetics, Pediatrics (Hematology/Oncology), Molecular and Medical Pharmacology, and member of the Eli and Edythe Broad Center of Regenerative Medicine and Stem Cell Research at the University of California, Los Angeles. The non-randomized, open-label Phase 1 clinical trial will enroll two pediatric patients, one month of age or older. The trial is designed to assess safety and tolerability of RP-L401, as well as preliminary efficacy, including potential improvements in bone abnormalities/density, hematologic status and endocrine abnormalities. Further information about the clinical program is available here.

About Infantile Malignant Osteopetrosis

Infantile Malignant Osteopetrosis (IMO) is a rare, severe autosomal recessive disorder caused by mutations in the TCIRG1 gene, which is critical for the process of bone resorption. Mutations in TCIRG1 interfere with the function of osteoclasts, cells which are essential for normal bone remodeling and growth, leading to skeletal malformations, including fractures and cranial deformities which cause neurologic abnormalities including vision and hearing loss. Patients often have endocrine abnormalities and progressive, frequently fatal bone marrow failure. As a result, death is common within the first decade of life. IMO has an estimated incidence of 1 in 200,000. The only treatment option currently available for IMO is an allogenic bone marrow transplant (HSCT), which allows for the restoration of bone resorption by donor-derived osteoclasts which originate from hematopoietic cells. Long-term survival rates are lower in IMO than those associated with HSCT for many other non-malignant hematologic disorders; severe HSCT-related complications are frequent. There is an urgent need for additional treatment options.

RP-L401 was in-licensed from Lund University and Medizinische Hochschule Hannover. Rocket’s IMO research is made possible by a grant from the California Institute for Regenerative Medicine (Grant Number CLIN2-12095). The contents of this press release are solely the responsibility of Rocket and do not necessarily represent the official views of CIRM or any other agency of the State of California.

About Rocket Pharmaceuticals, Inc.

Rocket Pharmaceuticals, Inc. (NASDAQ: RCKT) (“Rocket”) is advancing an integrated and sustainable pipeline of genetic therapies that correct the root cause of complex and rare childhood disorders. The company’s platform-agnostic approach enables it to design the best therapy for each indication, creating potentially transformative options for patients afflicted with rare genetic diseases. Rocket’s clinical programs using lentiviral vector (LVV)-based gene therapy are for the treatment of Fanconi Anemia (FA), a difficult to treat genetic disease that leads to bone marrow failure and potentially cancer, Leukocyte Adhesion Deficiency-I (LAD-I), a severe pediatric genetic disorder that causes recurrent and life-threatening infections which are frequently fatal, Pyruvate Kinase Deficiency (PKD) a rare, monogenic red blood cell disorder resulting in increased red cell destruction and mild to life-threatening anemia and Infantile Malignant Osteopetrosis (IMO), a bone marrow-derived disorder. Rocket’s first clinical program using adeno-associated virus (AAV)-based gene therapy is for Danon disease, a devastating, pediatric heart failure condition. For more information about Rocket, please visit www.rocketpharma.com.

Rocket Cautionary Statement Regarding Forward-Looking Statements

Various statements in this release concerning Rocket’s future expectations, plans and prospects, including without limitation, Rocket’s expectations regarding its guidance for 2020 in light of COVID-19, the safety, effectiveness and timing of product candidates that Rocket may develop, to treat Fanconi Anemia (FA), Leukocyte Adhesion Deficiency-I (LAD-I), Pyruvate Kinase Deficiency (PKD), Infantile Malignant Osteopetrosis (IMO) and Danon Disease, and the safety, effectiveness and timing of related pre-clinical studies and clinical trials, may constitute forward-looking statements for the purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995 and other federal securities laws and are subject to substantial risks, uncertainties and assumptions. You should not place reliance on these forward-looking statements, which often include words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “will give,” “estimate,” “seek,” “will,” “may,” “suggest” or similar terms, variations of such terms or the negative of those terms. Although Rocket believes that the expectations reflected in the forward-looking statements are reasonable, Rocket cannot guarantee such outcomes. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including, without limitation, Rocket’s ability to monitor the impact of COVID-19 on its business operations and take steps to ensure the safety of patients, families and employees, the interest from patients and families for participation in each of Rocket’s ongoing trials, our expectations regarding the delays and impact of COVID-19 on clinical sites, patient enrollment, trial timelines and data readouts, our expectations regarding our drug supply for our ongoing and anticipated trials, actions of regulatory agencies, which may affect the initiation, timing and progress of pre-clinical studies and clinical trials of its product candidates, Rocket’s dependence on third parties for development, manufacture, marketing, sales and distribution of product candidates, the outcome of litigation, and unexpected expenditures, as well as those risks more fully discussed in the section entitled “Risk Factors” in Rocket’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, filed November 6, 2020 with the SEC. Accordingly, you should not place undue reliance on these forward-looking statements. All such statements speak only as of the date made, and Rocket undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Claudine Prowse, Ph.D.

SVP, Strategy & Corporate Development

[email protected]

KEYWORDS: New York United States North America

INDUSTRY KEYWORDS: Health Stem Cells Genetics Clinical Trials Pharmaceutical Cardiology Biotechnology

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Warrior Gold Announces Advisory Board Appointment and Provides Exploration and Corporate Update

Warrior Gold Announces Advisory Board Appointment and Provides Exploration and Corporate Update

TORONTO–(BUSINESS WIRE)–Warrior Gold Inc. (TSX-V – WAR) (“Warrior Gold” or the “Company”) ispleased to provide a corporate update including the immediate appointment of Linda Wrong, P.Geo., CSR-P, to the Company’s Advisory Board. Ms. Wrong is a Professional Geoscientist and Certified Sustainability Practitioner with over 25 years of international experience in the exploration and mining industry, beginning her career as an exploration geologist in the Kirkland Lake Area with Kerr Addison Mines. As former Vice President of Environment and Permitting at Labrador Iron Mines, Linda successfully led the team through the environmental assessment and permitting processes for the James Mine, obtaining the required permits which led to the start of operations within two years of submitting regulatory filings. Following Labrador Iron Mines, Linda assumed senior environmental and sustainability leadership positions at Barrick Gold, Hudbay Minerals, and Lundin Mining. Linda is currently the Global General Manager, Corporate Environment at Glencore International, leading environmental initiatives across their international operations.

Danièle Spethmann, President and CEO of Warrior Gold stated, “We are very pleased that Linda has joined the Warrior Gold team. Linda’s extensive geological and industry expertise across northern Canada, including the Kirkland Lake camp, as well as her familiarity with the provincial and federal Canadian environmental and permitting processes, will support the Company’s efforts to advance the Goodfish- Kirana project.”

Exploration Update

The Company is also pleased to provide an exploration update further to its press release of August 20th announcing the initiation of a field mapping program and a collaborative advanced study program led by Dr. Neil Banerjee of Western University’s Department of Earth Sciences and Dr. Lisa Van Loon of LISA CAN Analytical Solutions. To date, 13 drill core samples and 84 pulps have been selected from the Goodfish-Kirana “A” and “C” Zones for a synchrotron mineral cluster analysis. The program will assess the link between alteration and mineralization from these zones, as well as the newly recognized mineralization (“A” Zone NS-FW) identified in the summer drill program. These samples will also be submitted for petrography, X-ray microscopy, and microprobe analysis to provide mineralogy of ore phases and gold textural information.

The Company is currently assessing all recently acquired drill data and additional analytical results (multi-element and screen-metallic) in conjunction with reprocessing historical raw geophysical data in advance of a drill-targeting exercise. In addition, the Company will be initiating an in-situ borehole survey test program consisting of (a) an Optical Televiewer (OTV) which collects a detailed high-resolution oriented image of the borehole wall that provides structural information such as the orientation of veins, lithological contacts, shear fabrics, etc., and (b) a Mineralization Logging Suite (MLS) survey comprised of Induced Polarization (IP), Resistivity and Natural Gamma. This work is expected to be completed by the end of November and will be used to validate previously collected structural data, capture structural information in domains where oriented drilling failed and provide a geophysical signature of mineralization which will aid in future geophysical program planning.

Infrastructure work includes renovating the Company’s new core logging facilities in the town of Kirkland Lake.

Corporate Update

On October 22, 2020, the Company held its Annual General and Special meeting of shareholders (the “Meeting”) which was shared online via Zoom. A total of 26,464,815 common shares of the Company were represented, approximately 33% of the total number of shares of the Company issued and outstanding. All matters presented for approval at the Meeting were duly authorized and approved including the election of four management nominees to the board of directors, the appointment of Crowe MacKay LLP as auditors for the ensuing year, the authorizing of the directors to fix their remuneration, and the re-approval of the Company’s 10% stock option plan.

The Company also confirms the extension to the expiry date of 5,322,739 warrants. Further to the Company’s press release of September 23, 2020, the TSX Venture Exchange provided approval for the extension of time for exercise. The approved extension provides for 4,533,239 warrants that were originally scheduled to expire on September 25, 2020, to expire on March 25, 2020, and for 789,500 warrants originally scheduled to expire on November 20, 2020, to expire on May 20, 2021. The Company did not amend the exercise price of $0.15.

Warrior Gold also announces that the Company will be participating at the 121 Mining Investment EMEA virtual investment conference being held November 18th through November 20th. This event connects exploration and mining management teams with investors from institutional funds, private equity groups, family offices, and sector analysts via one-on-one, 30-minute video meetings. Danièle Spethmann, CEO and Melissa Render, Principal Consulting Geologist, will be participating in these meetings. The Company highlights that these sessions will be held live.

About Warrior Gold Inc.

Warrior Gold is a TSX Venture Exchange-listed Company that owns the Goodfish-Kirana Property located five km from the town of Kirkland Lake, Ontario. The Property is located in the historic Kirkland Lake Gold Camp which is situated in the prolific Abitibi Greenstone Belt, recognized as one of the world’s highest grade greenstone belts with over 200 million ounces of gold produced to date.

The Goodfish-Kirana Property is 11.5 km long by roughly three km wide (34 km2) and contains three major structural trends: the east-west trending Kirana Deformation Zone; the northeast-trending Goodfish Deformation Zone; and the Victoria Creek Deformation Zone on the recently acquired Sutton claims on the northeast side of the property. The Property contains numerous historical gold showings, as well as 18 historical pits and shafts.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements: This press release contains forward-looking statements. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “would”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. The forward-looking statements are based on certain key expectations and assumptions made by the Company. Although Warrior Gold believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Warrior Gold can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. In addition to other risks that may affect the forward-looking statements in this press release are those set out in the Company’s Management Discussion and Analysis of the financial condition and results of operations for the year ended March 31, 2020 and the first quarter ended June 30, 2020, which are available at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof and Warrior Gold undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Danièle Spethmann, P.Geo.

President & CEO

Warrior Gold Inc.

+1 647 344-3433

[email protected]

KEYWORDS: North America Canada

INDUSTRY KEYWORDS: Forest Products Natural Resources Mining/Minerals

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Antibe Therapeutics Reports Q2 2021 Interim Financial and Operating Results

Antibe Therapeutics Reports Q2 2021 Interim Financial and Operating Results

TORONTO–(BUSINESS WIRE)–
Antibe Therapeutics Inc. (TSX: ATE, OTCQB: ATBPF), a clinical stage company leveraging its unique hydrogen sulfide platform to develop safer medicines for pain and inflammation, today announced the filing of its financial and operating results for the fiscal quarter ended September 30, 2020. The Company’s unaudited fiscal Q2 2021 condensed interim consolidated financial statements and MD&A are available on SEDAR.

“We’ve made tremendous progress this quarter in preparing our lead drug for Phase III trials and partnering,” commented Dan Legault, Antibe’s CEO. “We are getting closer to the start of our Phase III program, with a total of eight Phase III-enabling studies now running in parallel. Additionally, the recent commercial data strengthens our position as we engage partners for the large markets. Finally, we are executing our capital markets strategy to increase institutional awareness and liquidity, highlighted by the recent graduation to the TSX. We look forward to providing a comprehensive corporate update in the coming weeks.”

Q2 2021 Highlights

  • Announced robust secondary data from otenaproxesul’s Phase IIB dose-ranging, efficacy study, confirming the drug’s remarkable potency shown in earlier top-line results;
  • Completed third party studies for the seven largest markets, framing an impressive commercial opportunity for otenaproxesul;
  • Initiated two animal toxicology studies required for all companies by the US Food and Drug Administration to begin Phase III trials (six additional such studies have commenced in the current quarter);
  • Launched pipeline expansion initiatives aimed at developing new intellectual property based on the Company’s hydrogen sulfide platform;
  • Commenced a proprietary naming initiative for otenaproxesul with a leading global branding agency to determine the commercial brand/trademark;
  • Engaged Stern IR, a premier investor relations agency for healthcare and biotechnology companies worldwide, to support Antibe’s institutional outreach in the US; and
  • Completed the quarter with a cash balance of $22.5 million.

About Antibe Therapeutics Inc.

Antibe is leveraging its proprietary hydrogen sulfide platform to develop next-generation, safer nonsteroidal anti-inflammatory drugs (“NSAIDs”) for pain and inflammation arising from a wide range of medical conditions. Antibe is developing three assets that seek to overcome the gastrointestinal (“GI”) ulcers and bleeding associated with NSAIDs. Antibe’s lead drug, otenaproxesul (ATB-346), is entering Phase III for osteoarthritis pain. Additional assets under development include a safer alternative to opioids for peri-operative pain, and a GI-safe alternative to low-dose aspirin. Learn more at antibethera.com.

Forward Looking Information

This news release includes certain forward-looking statements, which may include, but are not limited to, the proposed licensing and development of drugs and medical devices. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “will”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “propose” and similar wording. Forward-looking statements involve known and unknown risks and uncertainties that could cause actual results, performance, or achievements to differ materially from those expressed or implied in this news release. Factors that could cause actual results to differ materially from those anticipated in this news release include, but are not limited to, the Company’s inability to secure additional financing and licensing arrangements on reasonable terms, or at all, its inability to execute its business strategy and successfully compete in the market, and risks associated with drug and medical device development generally. Antibe Therapeutics assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward-looking statements except as required by applicable law.

Antibe Therapeutics Inc.

Christina Cameron

VP Investor Relations

+1 416-922-3460

[email protected]

Stern Investor Relations

Courtney Turiano

+1 212-362-1200

[email protected]

KEYWORDS: North America Canada

INDUSTRY KEYWORDS: Biotechnology Pharmaceutical Health

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